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TRINET GROUP, INC.（TNET）与Trade Desk (The)（TTD）财务数据对比。点击上方公司名可切换其他公司
TRINET GROUP, INC.的季度营收约是Trade Desk (The)的1.5倍（$1.2B vs $846.8M），Trade Desk (The)同比增速更快（14.3% vs -2.2%），Trade Desk (The)自由现金流更多（$285.3M vs $43.0M），过去两年Trade Desk (The)的营收复合增速更高（31.3% vs -0.6%）
TriNet Group, Inc.是一家面向中小企业的专业雇主组织，总部位于加州都柏林，服务员工规模在3至2500人之间的各类机构。可提供薪资管理、健康福利管理服务，还能为客户提供劳动法规合规、风险降低相关咨询，可作为外包人力资源部门为企业分担人事相关事务。
The Trade Desk是来自美国的跨国科技企业，专注于实时程序化营销自动化领域的技术、产品与服务研发，可实现面向用户的个性化数字内容分发，为全球广告营销行业客户提供专业解决方案。
TNET vs TTD — 直观对比
营收规模更大
TNET
是对方的1.5倍
$846.8M
营收增速更快
TTD
高出16.5%
-2.2%
自由现金流更多
TTD
多$242.3M
$43.0M
两年增速更快
TTD
近两年复合增速
-0.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $846.8M |
| 净利润 | — | $186.9M |
| 毛利率 | — | 80.7% |
| 营业利润率 | 0.1% | 30.3% |
| 净利率 | — | 22.1% |
| 营收同比 | -2.2% | 14.3% |
| 净利润同比 | — | 2.6% |
| 每股收益（稀释后） | $0.02 | $0.39 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收TNETTTD
| Q4 25 | $1.2B | $846.8M | ||
| Q3 25 | $1.2B | $739.4M | ||
| Q2 25 | $1.2B | $694.0M | ||
| Q1 25 | $1.3B | $616.0M | ||
| Q4 24 | $1.3B | $741.0M | ||
| Q3 24 | $1.2B | $628.0M | ||
| Q2 24 | $1.2B | $584.5M | ||
| Q1 24 | $1.3B | $491.3M |
净利润TNETTTD
| Q4 25 | — | $186.9M | ||
| Q3 25 | $34.0M | $115.5M | ||
| Q2 25 | $37.0M | $90.1M | ||
| Q1 25 | $85.0M | $50.7M | ||
| Q4 24 | — | $182.2M | ||
| Q3 24 | $45.0M | $94.2M | ||
| Q2 24 | $60.0M | $85.0M | ||
| Q1 24 | $91.0M | $31.7M |
毛利率TNETTTD
| Q4 25 | — | 80.7% | ||
| Q3 25 | — | 78.1% | ||
| Q2 25 | — | 78.2% | ||
| Q1 25 | — | 76.8% | ||
| Q4 24 | — | 81.7% | ||
| Q3 24 | — | 80.5% | ||
| Q2 24 | — | 81.1% | ||
| Q1 24 | — | 78.9% |
营业利润率TNETTTD
| Q4 25 | 0.1% | 30.3% | ||
| Q3 25 | 4.1% | 21.8% | ||
| Q2 25 | 4.1% | 16.8% | ||
| Q1 25 | 8.9% | 8.8% | ||
| Q4 24 | -2.9% | 26.4% | ||
| Q3 24 | 4.7% | 17.3% | ||
| Q2 24 | 6.5% | 16.2% | ||
| Q1 24 | 9.7% | 5.8% |
净利率TNETTTD
| Q4 25 | — | 22.1% | ||
| Q3 25 | 2.8% | 15.6% | ||
| Q2 25 | 3.0% | 13.0% | ||
| Q1 25 | 6.6% | 8.2% | ||
| Q4 24 | — | 24.6% | ||
| Q3 24 | 3.6% | 15.0% | ||
| Q2 24 | 4.9% | 14.5% | ||
| Q1 24 | 7.2% | 6.4% |
每股收益（稀释后）TNETTTD
| Q4 25 | $0.02 | $0.39 | ||
| Q3 25 | $0.70 | $0.23 | ||
| Q2 25 | $0.77 | $0.18 | ||
| Q1 25 | $1.71 | $0.10 | ||
| Q4 24 | $-0.44 | $0.36 | ||
| Q3 24 | $0.89 | $0.19 | ||
| Q2 24 | $1.20 | $0.17 | ||
| Q1 24 | $1.78 | $0.06 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $287.0M | $1.3B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $54.0M | $2.5B |
| 总资产 | $3.8B | $6.2B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资TNETTTD
| Q4 25 | $287.0M | $1.3B | ||
| Q3 25 | $321.0M | $1.4B | ||
| Q2 25 | $407.0M | $1.7B | ||
| Q1 25 | $349.0M | $1.7B | ||
| Q4 24 | $360.0M | $1.9B | ||
| Q3 24 | $301.0M | $1.7B | ||
| Q2 24 | $249.0M | $1.5B | ||
| Q1 24 | $383.0M | $1.4B |
股东权益TNETTTD
| Q4 25 | $54.0M | $2.5B | ||
| Q3 25 | $110.0M | $2.6B | ||
| Q2 25 | $107.0M | $2.7B | ||
| Q1 25 | $63.0M | $2.7B | ||
| Q4 24 | $69.0M | $2.9B | ||
| Q3 24 | $129.0M | $2.6B | ||
| Q2 24 | $100.0M | $2.4B | ||
| Q1 24 | $143.0M | $2.2B |
总资产TNETTTD
| Q4 25 | $3.8B | $6.2B | ||
| Q3 25 | $3.4B | $5.9B | ||
| Q2 25 | $3.7B | $6.0B | ||
| Q1 25 | $3.8B | $5.7B | ||
| Q4 24 | $4.1B | $6.1B | ||
| Q3 24 | $3.7B | $5.5B | ||
| Q2 24 | $3.7B | $5.2B | ||
| Q1 24 | $4.0B | $4.7B |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $61.0M | $311.6M |
| 自由现金流经营现金流 - 资本支出 | $43.0M | $285.3M |
| 自由现金流率自由现金流/营收 | 3.4% | 33.7% |
| 资本支出强度资本支出/营收 | 1.4% | 3.1% |
| 现金转化率经营现金流/净利润 | — | 1.67× |
| 过去12个月自由现金流最近4个季度 | $234.0M | $795.7M |
8季度趋势，按日历期对齐
经营现金流TNETTTD
| Q4 25 | $61.0M | $311.6M | ||
| Q3 25 | $72.0M | $224.7M | ||
| Q2 25 | $75.0M | $165.0M | ||
| Q1 25 | $95.0M | $291.4M | ||
| Q4 24 | $65.0M | $199.4M | ||
| Q3 24 | $84.0M | $273.3M | ||
| Q2 24 | $39.0M | $81.3M | ||
| Q1 24 | $91.0M | $185.5M |
自由现金流TNETTTD
| Q4 25 | $43.0M | $285.3M | ||
| Q3 25 | $55.0M | $158.3M | ||
| Q2 25 | $57.0M | $119.8M | ||
| Q1 25 | $79.0M | $232.3M | ||
| Q4 24 | $47.0M | $179.2M | ||
| Q3 24 | $59.0M | $224.6M | ||
| Q2 24 | $22.0M | $59.1M | ||
| Q1 24 | $73.0M | $178.2M |
自由现金流率TNETTTD
| Q4 25 | 3.4% | 33.7% | ||
| Q3 25 | 4.5% | 21.4% | ||
| Q2 25 | 4.6% | 17.3% | ||
| Q1 25 | 6.1% | 37.7% | ||
| Q4 24 | 3.7% | 24.2% | ||
| Q3 24 | 4.8% | 35.8% | ||
| Q2 24 | 1.8% | 10.1% | ||
| Q1 24 | 5.8% | 36.3% |
资本支出强度TNETTTD
| Q4 25 | 1.4% | 3.1% | ||
| Q3 25 | 1.4% | 9.0% | ||
| Q2 25 | 1.5% | 6.5% | ||
| Q1 25 | 1.2% | 9.6% | ||
| Q4 24 | 1.4% | 2.7% | ||
| Q3 24 | 2.0% | 7.8% | ||
| Q2 24 | 1.4% | 3.8% | ||
| Q1 24 | 1.4% | 1.5% |
现金转化率TNETTTD
| Q4 25 | — | 1.67× | ||
| Q3 25 | 2.12× | 1.94× | ||
| Q2 25 | 2.03× | 1.83× | ||
| Q1 25 | 1.12× | 5.75× | ||
| Q4 24 | — | 1.09× | ||
| Q3 24 | 1.87× | 2.90× | ||
| Q2 24 | 0.65× | 0.96× | ||
| Q1 24 | 1.00× | 5.86× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
TNET
| Insurance Services | $1.1B | 85% |
| Professional Services | $169.0M | 14% |
TTD
| Other | $427.2M | 50% |
| Non Us | $419.6M | 50% |
